SBA Communications: Stock price triggers conversion right on notes

By Ashley Montgomery

Kansas City, Kan., May 18 - SBA Communications Corp. said holders of its $500 million 4% convertible senior notes due 2014 have the option to convert the notes.

The company said the right to conversion is a result of its class A common stock closing above $39.49 for 20 days out of the 30 days ended March 31.

The notes are convertible until June 30.

SBA is a Boca Raton, Fla.-based provider, owner and operator of wireless communications infrastructure.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.